Spectral Medical Provides July Tigris Trial Update

• 125 patients enrolled
• Record July patient enrollment to start the second half of 2024 

TORONTO, Aug. 01, 2024 (GLOBE NEWSWIRE) — Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a late-stage theranostic company advancing therapeutic options for sepsis and septic shock, today provided an update on the Company’s Tigris trial, a Phase 3 follow-on study evaluating the use of Polymyxin B Hemoperfusion (“PMX”) in a randomized controlled trial of adults treated for endotoxemia and septic shock.

Enrollment:

• Robust enrollment to start the second half of 2024, which continues the pace experienced since January 2024:
  • 125 patients enrolled at end of July 2024
    • Record monthly enrollment with nine patients enrolled in July – equals monthly enrollment record set in June
    • 44 patients enrolled in 2024 so far – represents the most robust enrollment rates since the start of the Tigris study
• With 25 patients to full enrollment, the Company has entered the final push to fully enroll and finish the Tigris trial
  • Based on current rate of enrollment, Tigris could be completed as early as December 2024

Trial Sites:

• Currently 23 clinical sites
  • Spectral clinical team focused on trial site management activities to ensure that Tigris sites have the support and resources to enroll patients as efficiently as possible

Dr. John Kellum, Chief Medical Officer of Spectral, noted, “Tigris is gathering momentum as we enter the final months of the trial. We have a very strong group of sites and very dedicated investigators. We could not ask for a better team.”

About Spectral

Spectral is a Phase 3 company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis.

PMX is approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 340,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. In July 2022, the U.S. FDA granted Breakthrough Device Designation for PMX for the treatment of endotoxic septic shock. Approximately 330,000 patients are diagnosed with septic shock in North America each year.

Forward-looking statement

Information
in
this
news
release
that
is
not
current
or
historical
factual
information
may
constitute
forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral’s senior management
as
well
as
information
currently
available
to
it.
While
these
assumptions
were
considered
reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are
subject
to
a
number
of
risks
and
uncertainties,
including
the company’s ability to raise capital and the availability
of
funds
and
resources
to
pursue
R&D projects, the recruitment of additional clinical trial sites, the rate of patient enrollment, the successful and timely completion of clinical studies, the success of Baxter’s commercialization efforts, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.

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